Tag: rate caps
President Uhuru Kenyatta rejected to approve the Finance Bill and further asked Members of Parliament to scrap commercial lending rate caps that critics say have led to a credit squeeze. To overturn the President’s memorandum, MPs require to marshall a two-thirds majority by 10th of October when they resume their sessions. Reginald Kadzutu, Economic Analyst joins CNBC Africa for more.
Over the past week we've seen stories coming out of Kenya such as the beginning of operations for the second phase of the Standard Gauge Railway despite viability and funding concerns – President Uhuru Kenyatta rejecting a bill to retain interest rate caps and the country setting up warehouses around the region to drive exports. For more context on these headlines, Analyst and SME Consultant, Victor Otieno joins CNBC Africa.